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G8 Report Transcription (Page 2)

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• will prepare national reports, with the assistance of the IEA, evaluating G8 member states' efforts to adhere to those principles, for delivery at the 2008 G8 summit, and
• note the importance of government-controlled strategic oil reserves, to lessen the impact of sudden and severe natural or man-made disruptions to oil supplies, and encourage the IEA to further assist major emerging oil consuming countries to adopt best practices with regard to building, maintaining and coordination the release of strategic oil reserves.

This year we have focused our discussions on energy efficiency in order to make an effective contribution towards meeting global climate and energy security challenges. Improving energy efficiency worldwide is the fastest, the most sustainable and the cheapest way to reduce greenhouse gas emissions and enhance energy security.

We welcome the progress made so far at the meetings of the Gleneagles Dialogue on Climate Change, Clean Energy and Sustainable Development, held in the United Kingdom in 2005 and Mexico in 2006. We also welcome the intentions of Germany and Japan to host the Dialogue meetings during their G8 Presidencies. We look forward to receiving a report of the Dialogue at the G8 Summit next year under the Japanese G8 Presidency.

CLIMATE CHANGE

We take note of and are concerned about the recent UN Intergovernmental Panel on Climate Change (IPCC) reports. The most recent report concluded both, that global temperatures are rising, that this is caused largely by human activities and, in addition, that for increases in global average temperature, there are projected to be major changes in ecosystem structure and function with predominantly negative consequences for biodiversity and ecosystems, e.g. water and food supply.

Fighting Climate Change

We are therefore committed to taking strong and early action to tackle climate change in order to stabilize greenhouse gas concentrations at a level that would prevent dangerous anthropogenic interference with the climate system. Taking into account the scientific knowledge as represented in the recent IPCC reports, global greenhouse gas emissions must stop rising, followed by substantial global emission reductions. In setting a global goal for emissions reductions in the process we have agreed today involving all major emitters, we will consider seriously the decisions made by the European Union, Canada and Japan which include at least a halving of global emissions by 2050.

We commit to achieving these goals and invite the major emerging economies to join us in this endeavor.

As climate change is a global problem, the response to it needs to be international. We welcome the wide range of existing activities both in industrialised and developing countries. We share a long-term vision and agree on the need for frameworks that will accelerate action over the next decade. Complementary national, regional and global policy frameworks that co-ordinate rather than compete with each other will strengthen the effectiveness of the measures. Such frameworks must address not only climate change but also energy security, economic growth, and sustainable development objectives in an integrated approach. They will provide important orientation for the necessary future investment decisions.

We stress that further action should be based on the UNFCCC principle of common but differentiated responsibilities and respective capabilities. We reaffirm, as G8 leaders, our responsibility to act. We acknowledge the continuing leadership role that developed economies have to play in any future climate change efforts to reduce global emissions, so that all countries undertake effective climate commitments tailored to their particular situations. We recognise however, that the efforts of developed economies will not be sufficient and that new approaches for contributions by other countries are needed. Against this background, we invite notably the emerging economies to address the increase in their emissions by reducing the carbon intensity of their economic development. Action of (continued on next page)

Photo Credit: German Federal Government/Gebhardt